Estimated Taxes for Business Owners

Estimated tax is the method used to pay tax on income that isn't subject lo withholding, most notably earnings from self-employment. Many owners of small businesses whether operated as S corporations, partnerships, limited liability companies electing partnership taxation, or sole proprietorships—pay their estimated lax using the same IRS Form 1040-ES that individuals use. Payments of estimated taxes are spread out over four payments, falling due in April. June, and … [Read More...]